Alan Kohler is one of Australia’s most experienced business commentators. Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report. Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website. Alan is the regular finance presenter on the ABC News and producer of the popular nightly graph (or two).

Chinese manufacturing PMI falls in May: HSBC

Operating conditions in the Chinese manufacturing sector deteriorated for the first time in seven months, according to HSBC.

The HSBC purchasing managers index – a composite indicator designed to give a single-figure snapshot of operating conditions in the manufacturing economy – came in at 49.2 in May, down from 50.4 in April.

A reading below 50 indicates a contraction in the sector.

“Behind the meagre expansion of output, total new orders declined modestly and for the first time since last September. Demand from abroad also weakened over the month, with new export orders falling for the second month in a row,” HSBC said in the report.

“A number of panellists suggested reduced client demand, particularly in the US, had led to the overall reduction in export orders.”